Branson Brooks
Honeywell has unveiled a plan to spin off its advanced materials business into an independent U.S. publicly traded company.
The planned spin-off will look to progress Honeywell’s strategic goals of accelerating organic growth, evolving its Accelerator operating system and broadening its portfolio, the technology company announced Tuesday.
Vimal Kapur, chairman and CEO of Honeywell, said, “Given the sustained market demand for advanced specialty chemicals and materials around the globe, we are confident now is the right time for this business to grow independently, leveraging its leading technologies and deep customer relationships.”
“Today’s announcement is the latest step in the optimization of the Honeywell portfolio, a key priority I laid out in my first year leading the company,” Kapur stated. “Through the powerful combination of strategic bolt-on acquisitions and subtractions of high quality but non-core business lines, we continue to enhance our portfolio mix and further tighten Honeywell’s alignment to three compelling megatrends: automation, the future of aviation, and energy transition—underpinned by our Accelerator business models.”
The planned spin-off transaction is scheduled for completion by the end of 2025 or early 2026.
